BOK Financial ranked top retirement plan providers

Rhea-AI Summary

BOK Financial (NASDAQ: BOKF) has excelled in the annual PLANSPONSOR survey, earning 12 out of 12 'Best in Class' awards for the 2021 Defined Contribution Survey. This reflects strong client satisfaction, highlighted by a 94% Net Promoter Score. The accolades span various service categories including recordkeeping, participant services, sponsor services, and investments. Senior executives emphasize their commitment to client service and helping employees secure better retirement outcomes. BOK Financial manages $105 billion in assets, providing comprehensive employer-sponsored retirement plans.

Positive

• Achieved 12 out of 12 'Best in Class' awards in PLANSPONSOR survey.
• 94% Net Promoter Score indicates high client satisfaction.
• Recognition across all service categories reflects strong performance.

Negative

• None.

Institutional Wealth team sweeps annual PLANSPONSOR survey awards for second year

TULSA, Okla., March 04, 2022 (GLOBE NEWSWIRE) -- Once again BOK Financial (NASDAQ: BOKF) ranked among top retirement plan providers in the country, according to the highly regarded PLANSPONSOR Defined Contribution Survey.

PLANSPONSOR’s annual Defined Contribution Survey has been the most important industry benchmark for the last two decades, measuring and evaluating 401(k) and other DC providers according to feedback from their own clients. Major defined contribution providers are rated in the various client categories they serve, and benchmark information is collected for plan sponsors to gauge their plans against their peers.

“These results mean a great deal to us because they come directly from our plan sponsors reflecting on their experience with our team,” said Ken Etheredge, director of Retirement Plans and Asset Services for BOK Financial. “We are committed to providing outstanding service, expertise and innovation to our clients and participants, and this affirms that we’re not only meeting but exceeding their expectations.”

BOK Financial was awarded 12 of 12 “Best in Class” awards in PLANSPONSOR magazine’s 2021 Defined Contribution Survey across the $5MM - $25MM market segment. The reviews from our plan sponsor clients earned us the top provider award with a 94 percent “Net Promoter Score*” and “Best in Class” honors in every category measured by PLANSPONSOR. This includes 12 areas of participant and sponsor services covering four broad categories: recordkeeping platform, participant services, sponsor services, and investments and fees.

“We are proud of our continued record of service,” said Anthony Phillips, senior vice president, and Institutional Wealth national sales manager. “These outstanding results validate that we’re delivering on our goal of helping clients and their employees save for a more secure retirement.”

BOK Financial offers a comprehensive range of services for any employer-sponsored retirement plan, including 401(k) plans, profit sharing plans, 403(b) plans, 457 plans, employee stock ownership plans, defined benefit pension plans, cash balance plans, and nonqualified deferred compensation plans.

Best in Class awards are based on sponsor satisfaction within a given area of service. Ratings were derived from the percentage of responders “completely satisfied” (9 or 10 score) less those “dissatisfied” (6 or less score).  The three highest-scoring providers in each category earned a Best in Class award, as did those with a net satisfaction rate above the market segment’s 70% benchmark score. Net Promoter Score is calculated by subtracting the percentage of customers that are “detractors,” giving a score of 6 or less, from the percentage that are “promoters,” giving a 9 or 10.

About BOK Financial Corporation

BOK Financial Corporation is a $50 billion regional financial services company headquartered in Tulsa, Oklahoma with $105 billion in assets under management and administration. The company's stock is publicly traded on NASDAQ under the Global Select market listings (BOKF). BOK Financial Corporation's holdings include BOKF, NA; BOK Financial Securities, Inc., BOK Financial Private Wealth, and BOK Financial Insurance, Inc. BOKF, NA operates TransFund, Cavanal Hill Investment Management and BOK Financial Asset Management, Inc. BOKF, NA operates banking divisions across eight states as: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas and BOK Financial (in Arizona, Arkansas, Colorado, Kansas and Missouri); as well as having limited purpose offices Nebraska, Milwaukee and Connecticut. Through its subsidiaries, BOK Financial Corporation provides commercial and consumer banking, brokerage trading, investment, trust and insurance services, mortgage origination and servicing, and an electronic funds transfer network. For more information, visit www.bokfinancial.com.

Contact: Cydney Baron
Cbaron@bokf.com
918.588.6506   

FAQ

What recent award did BOK Financial receive?

BOK Financial received 12 'Best in Class' awards in the 2021 PLANSPONSOR Defined Contribution Survey.

What is BOK Financial's Net Promoter Score?

BOK Financial achieved a Net Promoter Score of 94% in the recent PLANSPONSOR survey.

How does BOK Financial rank among retirement plan providers?

BOK Financial ranks among the top retirement plan providers in the country according to the PLANSPONSOR survey.

What services does BOK Financial offer for retirement plans?

BOK Financial offers a range of services including 401(k), profit sharing, 403(b), and defined benefit pension plans.